Pay raises and hiring frozen, but no new layoffs are planned

1:22 AM,
Mar. 21, 2009

Written by

Xerox Corp. has joined the swelling ranks of major Rochester-area employers that are halting pay raises and cutting benefits during the recession.

The printing and imaging company said Friday that it also has instituted a hiring freeze and is reducing other expenses - such as suspending the matching contribution to employees' 401(k) savings plans - as it's hammered by the global economic slowdown and depressed sales.

But Xerox said it doesn't anticipate making any further cuts in jobs beyond the approximately 3,000 that have been eliminated worldwide in recent weeks. The company had ...